All posts containing the tag: "JohnMcclain"
Posted Feb 4th 2010 4:07AM by TMZ Staff
The executors for the estate of Michael Jackson just got their 10%.
John McClain and John Branca had asked the judge for 10% of the profits made from a number of estate-related ventures.
The judge just approved the fee request, stating that the arrangement actually could save the estate money -- because the traditional way of making deals with managers, lawyers, etc. costs a bloody fortune.
One item excluded from the 10% -- a portion of the profits from the movie, "This Is It."
The judge also gave McClain and Branca the right to green light deals without going back to court every time for permission.
The judge gave McClain and Branca props for raking in the dough for the estate .... calling their performance "extraordinarily impressive."
Filed under: Celebrity Justice, Michael Jackson
Tags: 10, john branca, john mcclain, JohnBranca, JohnMcclain, michael jackson, michael jackson estate, MichaelJackson, MichaelJacksonEstate, profits, ten percent, TenPercent, this is it, ThisIsIt
Posted Dec 21st 2009 11:30AM by TMZ Staff
Michael Jackson's estate executors want to breathe new life into an incredibly valuable asset -- the heavily-collateralized MIJAC Music Catalog.
The Catalog -- valued this year at around $100 million -- was used by Michael Jackson to secure at least two big loans.
According to legal docs obtained by TMZ, co-executors John Branca and John McClain have entered into negotiations with a bank to restructure the two loans with more favorable terms. The new terms could save the estate a fortune.
Filed under: Music, Michael Jackson, Exclusives
Tags: executors, john branca, john mcclain, JohnBranca, JohnMcclain, michael jackson, michael jackson estate, MichaelJackson, MichaelJacksonEstate, mijac music catalog, MijacMusicCatalog, money
Posted Dec 17th 2009 2:49PM by TMZ Staff
The executors of Michael Jackson's estate have filed documents, explaining why they should be entitled to more than the statutory fee most executors get -- a big reason ... Joe Jackson.
According to legal docs filed with the court, co-executors John Branca and John McClain had to defend the estate from a steady barrage of attacks by Joe Jackson and, until recently, by Katherine Jackson.
They also claim they've been working 14 hours a day, 7 days a week since they were appointed. And, they claim, their "business reputations and the character and reputation of Michael Jackson were repeatedly assaulted by personal and unfounded attacks" which they were forced to correct publicly in order to protect the Michael Jackson brand.
Branca and McClain say at the time Michael Jackson died ... Michael and his businesses were defendants in 11 separate lawsuits and it only got worse after his death.
Branca and McClain want more than the statutory fee -- which is a percentage of the value of the estate. They're asking for "extraordinary compensation" for the work most executors never have to do.
Filed under: Celebrity Justice, Michael Jackson, Exclusives
Tags: estate, fees, joe jackson, JoeJackson, john branca, john mcclain, JohnBranca, JohnMcclain, katherine jackson, KatherineJackson, michael jackson, michael jackson estate, MichaelJackson, MichaelJacksonEstate, probate, probate3, will
Posted Dec 17th 2009 12:17PM by TMZ Staff
Sarah Palin now says she meant no disrespect to Senator John McCain by blacking out his name on her visor, claiming she -- like Clark Kent with his clever disguise -- just wanted to go unnoticed.
Sarah told POLITCO, "I am so sorry if people took this silly incident the wrong way ... so much for trying to be incognito."
So Palin -- who wears many hats -- would have us believe A) the visor could transform her into an ordinary, anonymous soccer mom as she frolicked with her now-famous family in Hawaii and B) blacking out the name of the Presidential running mate whose campaign staff trashed her was an innocent gesture, devoid of motive.
Nice hat trick, Sarah.
Filed under: Paparazzi Photo, Politix, Sarah & The Palins
Tags: hat, hawaii, incognito, john mcclain, JohnMcclain, politico, sarah palin, SarahPalin, statement
Posted Dec 15th 2009 7:47PM by TMZ Staff
Michael Jackson's estate has not paid the Special Administrators a penny, but the day has now come -- at least according to new court docs filed by John Branca and John McClain.
The two men -- now officially the Executors of Michael Jackson's estate, are asking for 70% of the fees they have earned, pending court approval of the full amount.
The papers do not specify the amount Branca and McClain want. They do say that they want the statutory amount of executor fees for the first $25 million of the estate -- that fee comes to $188,000. But the estate is valued far in excess of $25 mil and the two Executors would be entitled to a portion of that as well. In addition, Branca and McClain also want fees "for their extraordinary services," though that amount is not specified.
According to the new documents, fees some of the law firms connected with the estate are asking for are huge. For example, the law firm of Greenberg Traurig wants $1,547,064.50. The firm of Hoffman, Sabban & Watenmaker wants $957,644. The firm of Kinsella, Weitzman, Iser, Kump & Aldisert wants $420,062.50.
Filed under: Celebrity Justice, Michael Jackson, Exclusives
Tags: attorneys fees, AttorneysFees, executor, fees, john branca, john mcclain, JohnBranca, JohnMcclain, michael jackson, michael jackson estate, MichaelJackson, MichaelJacksonEstate, probate, special administrator, SpecialAdministrator
Posted Nov 12th 2009 1:48PM by TMZ Staff
It's official -- John Branca and John McClain have been named the executors of Michael Jackson's estate.
The papers were signed and stamped today.
Filed under: Celebrity Justice, Michael Jackson
Tags: john branca, john mcclain, JohnBranca, JohnMcclain, michael jackson, MichaelJackson
Posted Nov 10th 2009 5:19PM by TMZ Staff
Joe Jackson's lawyer just made it clear to the judge -- if Michael Jackson's dad doesn't get an allowance, he'll file a creditor's claim against his son's estate.
Brian Oxman, Joe's lawyer, just said out loud he thinks Katherine has "struck a deal with the estate" rather than staying committed to challenging the will, John Branca, and on and on. Branca's lawyer, Howard Weitzman, said there has never been a "deal" with Katherine.
Oxman said if Joe doesn't get the allowance he's after, Michael would have breached a contract he had with daddy and that's why he'd then file a creditor's claim. Oxman didn't elaborate on what kind of contract MJ made with Joe.
And then there's this. Katherine Jackson's lawyer said Katherine doesn't object to Joe getting an allowance, but was quick to add that Joe has no legal standing to appear in probate court.
Filed under: Celebrity Justice, Michael Jackson
Tags: estate, executors, joe jackson, JoeJackson, john branca, john mcclain, JohnBranca, JohnMcclain, michael jackson, MichaelJackson
Posted Nov 10th 2009 1:45PM by TMZ Staff
What a turn! Katherine and Joe Jackson are fighting each other in court ... right now.
Katherine's new lawyer, Adam Streisand, is arguing to the judge that Joe has no legal standing to object to John Branca and John McClain as executors, nor does he have any standing to object to the validity of the will.
Streisand is arguing since Michael Jackson cut Joe out of the will, he has no dog in this fight.
During the fight, Billie Jean Jackson -- you know -- just stood up and said that she's an heir so she'll object ... so Joe's got that going for him.
Stay tuned...
Filed under: Celebrity Justice, Michael Jackson
Tags: adam streisand, AdamStreisand, court, fight, joe jackson, JoeJackson, john branca, john mcclain, JohnBranca, JohnMcclain, will
Posted Oct 20th 2009 8:40PM by TMZ Staff
Michael Jackson's estate lawyers want the judge to lay down the law once and for all ... John Branca and John McClain have broad powers to make decisions for all things MJ.
The attorneys filed legal papers today asking the court to put in writing what the judge said earlier this month -- outlining what Branca and McClain have authority to do as Special Administrators.
The judge gave the duo broader powers than they had initially -- but lawyers for Katherine Jackson have kicked up some dust.
There's a legal showdown on Thursday at 2:30 PM PT. We'll be there.
Filed under: Michael Jackson, Exclusives
Tags: estate, estate of michael jackson, EstateOfMichaelJackson, john branca, john mcclain, JohnBranca, JohnMcclain, katherine jackson, KatherineJackson, michael jackson, MichaelJackson
Posted Oct 15th 2009 1:15PM by TMZ Staff
We've learned ... lawyers representing Michael Jackson's estate are going to court this morning, asking the judge to streamline the administration of the estate -- specifically, clarifying they have the power to make day-to-day decisions without having to go before a judge.
Lawyers for John Branca and John McClain claim the judge has already given them broad powers to make decisions over Jackson's estate, and only the biggest ones would require them going into court. But Katherine's lawyers haven't always seen it that way, so the estate wants the judge to restate it for them.
They're at the courthouse now.
UPDATE: 1:27 PM PT The judge just put off the hearing until later this month, when he'll formally hear the case.
Filed under: Celebrity Justice, Michael Jackson, Exclusives
Tags: estate, john branca, john mcclain, JohnBranca, JohnMcclain, michael jackson, MichaelJackson, probate, special administrators, SpecialAdministrators
Posted Oct 12th 2009 8:13PM by TMZ Staff
It's the quickest resolution in Hollywood history: Paul Anka says the special administrators of Michael Jackson's estate gave him a 50% cut of "This Is It" ... after he said Michael "stole" the original recordings from his studio back in the 80s.
Paul also said John McClain told him, "Now we know why the song was so good ... it wasn't the type of Michael Jackson song that he could write."
Anka said he was humbled by the compliment.
Filed under: Celebrity Justice, Music, Michael Jackson, Exclusives
Tags: john mcclain, JohnMcclain, michael jackson, MichaelJackson, paul anka, PaulAnka, this is it, ThisIsIt
Posted Oct 12th 2009 6:25PM by TMZ Staff
John Branca, the special administrator for Michael Jackson's estate tells TMZ Paul Anka is right -- "This Is It" was not written by MJ alone, it was co-written with Paul Anka.
Branca and his people are negotiating a settlement with Paul Anka's lawyer.
Branca tells TMZ, "We acknowledge that Michael and Paul wrote this song together."
As we first reported, the other special administrator, John McClain, told Anka "We'll give you whatever you want, whatever it takes we'll do the right thing."
Filed under: Celebrity Justice, Music, Michael Jackson, Exclusives
Tags: john mcclain, JohnMcclain, michael jackson, MichaelJackson, paul anka, PaulAnka, this is it, ThisIsIt
Posted Sep 18th 2009 5:51PM by TMZ Staff
The probate judge in the Michael Jackson estate case has ruled Katherine Jackson can challenge the special administrators and not forfeit her position as a beneficiary in Michael's will.
As a result of the ruling, Katherine can now safely challenge special administrators John Branca and John McClain without jeopardizing her position in the will -- she's set to get 40% of the net value of the estate.
The will has a "no contest" clause -- which means any beneficiary who contests the will gets aced out of inheriting anything. But the court has now ruled challenging the special administrators is not a "contest" of the will itself.
Interestingly, the court specifically ruled .... Katherine objecting to the special administrators on grounds there was some sort of "undue influence" imposed on M.J. is not a "contest" under the will.
Filed under: Michael Jackson, Exclusives
Tags: court, estate, john branca, john mcclain, JohnBranca, JohnMcclain, katherine jackson, KatherineJackson, michael jackson, MichaelJackson, safe harbor, SafeHarbor, special administrators, SpecialAdministrators, will
Posted Aug 8th 2009 1:30AM by TMZ Staff
The special administrators of Michael Jackson's estate scored a big one -- reeling in $3 million from the company that issued a life insurance policy to M.J.
John Branca (above) and John McClain quietly cashed in the policy -- reports it was worth upwards of $20 million are simply not true. It was a $3 million payout. And here's why it was a swift move -- the coroner hasn't even released the autopsy report yet.
Some life insurance companies are hinky about paying out proceeds until the cause of death is known. Remember Heath Ledger's death, when the life insurance company wouldn't promptly fork over the $10 million because Heath allegedly lied about drug use on the application?
Somehow Branca and McClain convinced the insurance company to ante up with lightening speed -- and the estate is $3 million richer for it.
Filed under: Michael Jackson, Exclusives
Tags: john branca, john mcclain, JohnBranca, JohnMcclain, life insurance, LifeInsurance, michael jackson, MichaelJackson
Posted Jul 29th 2009 9:21AM by TMZ Staff
Katherine Jackson's lawyer is officially squaring off with the two men Michael Jackson selected to handle his estate, claiming the co-executors are intentionally trying to keep Jackson's mom in the dark.
Londell McMillan just issued a statement making it clear -- he wants Katherine to become a co-executor. McMillan claims the co-executors -- John Branca and John McClain -- are not letting Katherine see the agreement Jackson signed with AEG. ... which McMillan says could be a huge source of income for the estate.
McMillan claims the co-executors are imposing unreasonable demands on Katherine -- requiring her to make special promises of confidentiality for the benefit of AEG.
The co-executors have maintained all along they were the ones Michael selected to manage the estate and they are doing their job.
One thing is clear -- it's getting ugly.
UPDATE 9:43 AM ET Reps for the co-executors just issued a statement, saying the only thing the co-executors asked of Mrs. Jackson is a confidentiality agreement with respect to the AEG agreement but her lawyers refused. They also say it's apparent Katherine's lawyers want to "rewrite Michael's will to make Mrs. Jackson 'Guardian of the Estate' and have her appointed as an executor" ... the co-executors say it's just not what Michael wanted and he said so in his will.
Filed under: Michael Jackson
Tags: john branca, john mcclain, JohnBranca, JohnMcclain, katherine jackson, KatherineJackson, MichaelJackson, probate, will
